Reuters reported that ArcelorMittal South Africa would reduce prices for some of its products from November, in line with international benchmarks.

AS per report, rebar and wire rod prices will fall by around 3.5%, with other long steel product prices unchanged. Plate prices will fall by around 5%, with prices for other flat steel products left at previous levels.

Mr Sven Lunsche spokesman of ArcelorMittal SA said that "The price adjustments are the result of our monthly benchmarking exercise based on international price trends and the rand US dollar exchange rate."

(Sourced from www.reuters.com)